Investment Strategy

The Fund aims to achieve a combination of income and capital growth over the medium to long term. The Fund seeks to achieve its objective primarily through a flexible allocation to debt securities and equities globally (including those from emerging markets). Debt securities may be investment grade, non-investment grade and un-rated debt securities. The Fund can invest in debt securities from any issuer. The Fund may invest up to 80% of its assets in debt securities and up to 60% in equities. The Fund may also invest in cash, near cash, money market instruments, collective investment schemes and other transferable securities. Financial derivative instruments can be used for investment purposes and for efficient portfolio management. They may include derivatives on currencies, interest rates, credit and equities and can be used to achieve both long and short positions.